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28th November 2014, 09:37 AM
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Re: Important Questions for Financial accounting paper

You are looking for Anna University Engineering Economic and Financial Accounting model paper, I am giving here:

1. Define Managerial economics. Managerial economics defined by BRIGHAM AND PAPPA, “ the application of economic theory and methodology to business administration practice.

2. What are the features of Economics?
Unlimited wants Scarce resources Alternative uses Making choice

3. Give the meaning of Engineering Economics.
It deals with the concepts and techniques of analysis useful in evaluating the worth of system , products and services in relation to their costs .The essential pre requiste of successful engineering application is to get the greatest result per unit of resource input.

4. What is Demand
Every want supported by the willingness to buy and ability to buy.

5. State the types of demand.
Price demand Income demand Cross demand

6. Give the meaning of law of Demand. Other things remaining the same the amount of quantity demanded rises with every fall in the price and vice versa. It state that the relationship between price and demand of a particular product or service.

7. What is Elasticity of demand? The term elasticity is defined as the rate of responsiveness in the demand of commodity for a given change in price or any other determinants of demand .

8. Mention two important features of price elasticity Proportionate changes in the quantity demand for product Propotinate change in the in the price of another product. .

9. Give the meaning of fixed cost and variable cost Fixed cost is not varied according to the level of productivity, but the variable cost differ depends upon the level of productivity..

10. What is elasticity of demand? The rate of responsiveness in the demand of a commodity for a given changes in prices or any other determinants of demand.

11. What do you mean by marginal utility? Additional productivity of additional demand is known as marginal utility.
12. State any two types of Elasticity. Price elasticity. Income elasticity Cross elasticity Advertising elasticity of demand.
\13. What is meant by price elasticity? Quantity demanded of a commodity in response to a given change in price.
14. What do you mean by cross elasticity of demand? Cross elasticity of demand refers to the quantity demanded of a commodity in response to a change in the price of a related goods, which may be substitute or complementary.
15. Find out variable cost . Fixed cost =Rs. 50 ,Total cost =Rs 150 Variable cost = Totalcost -fixed cost 150- 50= 1
16. Give the meaning of consumer surplus. It is the difference between what the consumer is prefared to pay and what he actually pays when he is buying any commodity
17. Give the meaning of consumer equilibrium.When he maximize his utility with in the given constraint budget..
Department of Information Technology MG2452-Engineering Economics & Financial Accounting
18. What is indifference curve? A curve which reveals certain combination of goods and services that yield a consumer the same utility
19. Mention any 4 assumptions of Law of diminishing marginal utility Nature of product or service Size of the business Quality of the sweets Zero time intervals
20. Define market demand. Market demand for a particular product is the total volume that would be bought by a defined ccustomer group in a marked geographical area in a certain marketing programming.
21. Mention the methods of demand forecasting. Survey methods Statistical methods Expert opinion method Test marketing Controlled experiments Judgmental approach
22. What do you mean by Income elasticity of demand? Income elasticity of demand refers to the quantity demanded of a commodity in responseto a given change of the consumer
23. What are the types of elasticity? Perfect elasticity Perfectly in elasticity Unit elasticity Relatively elastic supply Relatively in elasticity supply
24. What is production function? Production function is defined at a given stage of technical knowledge. It means that if there is any technological breakthrough there could be further jump in the volume of production for a given set up of inputs.

25. What is Isoquants? Iso means equal. Quant means quantit , Isoquant means that quantities throughout the given isoquant are equal. It is otherwise called as isoproduct curves.

26. What are the characters of Isoquants? Downward sloping Convex to origin Do not intersect Does not touch axes

27. Give the meaning of Isocosts. This curves represent the combination of inputs that will cost a producer the same amount of moneys.

28. What is the rule of COBB-DOUGLAS function? P=bLa c 1-a Where P is the total output L is the index of employment of labour in manufacturing C= index of fixed capital in manufacturing.

29. Define long run curve It defined as a period of adequate length in which a company may alter all factors of a production with a high degree of flexibility. It covers the cost of changes in the size and kind of plant.

30. What is demand forecasting? The results of demand forecasting guide the entrepreneurs to set up their business.

31. What is increase and decrease in demand? Increase demand means need of particular commodity is richer than the existing productivity due to the heavy demand of the product or service. Decrease in demand is lower than that of exiting demand.

32. What is demand schedule? Systamatic arrangement of demand is demand schedule.

33. What is decision making? Choosing from the various alternatives, which can able to use and give the better results.
Department of Information Technology MG2452-Engineering Economics & Financial Accounting


34. What is sunk costs? Sunk costs are those that have already been committed or spent in the past They do not any more affect the current production. The cost of storing in the case of a firm having unused warehouse space other wise stand empty is the sunk costs.

35. Mention the characterstics of perfect competition. • A large number of buyers and sellers. Homogeneous products or services. Freedom to enter or exit the market Perfect mobility of factors of production. Each firm is a price taker.

36. What is monopoly? Monopoly refers to a situation where a single firm is in a position to control either supply or price of a particular product or service..

37. Mention the causes of monopoly. Government policies and legal provisions. Mergers and acquisitions Research and development Control over key inputs.

38. Explain advertising elasticity of demand .

39. Define oligopoly. It is the form of organization in the market where there are few sellers of a homogeneous or different iated product or services.

40. What collusions ? To protect the business interest at large,oligopoly firms may have a tacit collusion among themselves to fix prices and quatos for each of them.

41. Define MNC. Multinational company, the company which render its services to various countries where the demand of the particular product or services needed by the company

42. What is the strategy used in stiff competition? Price Matching Promoting Brand Loyalty Time To Time Pricing Promotional Pricing Target Pricing

43. What is pricing policy? Pricing policies are intended to bring consistency in the pricing pattern,they define how to handle complex issues such as price discrimination

44. What are the methods of pricing ? Cost-based pricing Competition based pricing Demand based pricing Strategy based pricing.

45. Give the meaning of demand curve.

46. What is meant by skimming pricing? It refers to the practice of offering products at the highest possible price which has only creamy layer of customer can offered.

47. What are the types of decision making? Personal and organizational decisions Basic and routine decisison Programmed and non-programming decision .

48.Brainstorming-meaning. It is a technique used to generate as many ideas as possible from a group of people on a selected problem.

49. State the meaning of Synectics The main idea for syne tics is to stimulate novel and even bizarre alternatives through the joining together of distinct and apparently irrelevant ideas..
Department of Information Technology MG2452-Engineering Economics & Financial Accounting


50. What is meant by opportunity cost? It refers to the value that must be foregone in using a resource for one specific purpose or in undertaking one specific activity. .


For detailed paper here is attachment:
Attached Files
File Type: pdf Anna Univ EC & FA Question paper.pdf (550.1 KB, 89 views)


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